The prices in real estate in Manila, in the Metro Manila region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Manila has increased strongly during the last 6 months. In March, the average price per m² was ₱ 93,564. In the following month the price per m² increased considerably to ₱ 126,014. In the following two months the price per m² has barely changed, going from ₱ 109,789 to ₱ 110,446 per m². The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₱ 110,117.5 to ₱ 111,064.5 during July y August
Based upon to the price in Manila (cities), this has fallen considerably in the last 6 months. The average price for March is ₱ 9,312,324. During April the price had a considerable reduction till ₱ 5,574,997. During the following two months (May, June) the average price had a considerable reduction of 76 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 6,560,436.5 to ₱ 5,442,874.5, which means a 83 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 5,356,414 they are 24 % more affordable than the average price for Manila. The properties with the highest average price have 4 bedrooms, Their price is 380 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 8,731,382.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 91,162 / m², with an average ₱ 113,374 / m² price in Manila. The properties with the highest average prices have 1 bedroom. They are 11 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 99,647 / m².
The graph displaying the average prices displays the property type "House And Lot" as the most affordable one. At an cost of ₱ 5,356,414 it is 45 % cheaper than the average price in Manila. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Townhouse". At a price of ₱ 27,921,876 it is 1879 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 32,305 / m² followed by "Apartment" priced at ₱ 72,546 / m². "Condominium" is the most costly type of property with a ₱ 146,761 / m² cost followed by "Commercial Lot" with an average price of ₱ 111,686 / m².